Mr. Frankel mixes fact with fiction, as most liberals are wont to do. First, he incorrectly says supply side economics does not work. Reagan proved that false.
Every time the government takes more than 20 percent of the GDP and uses it to achieve social engineering, we go into recession, and every time the government tries to cure a recession with spending we go into depression.
Albert Einstein said doing the same thing over and over, expecting a different result, is the classic definition of insanity.
Frankel did make one statement I agree with. He said politicians have one job and only one job and that is to be re-elected. This is true of both parties. They cater to those who receive benefits from the treasury, paid for by a minority, who are the investment class, stopping economic progress by slowing the velocity of money and causing recessions. The public is so unaware, they listen to liberals who continue to tell the big lie and that is that government-created jobs are good, when they are the cause of the problem.
Saying that businessmen just put the profits in their pockets and implying that is bad simply doesn't understand where business loans and capital for investment comes from. It is the savings of this class that is the engine for growth.
I don't expect that liberals will ever understand that government is an expense that never created any wealth. Business is the engine that moves the vehicle down the road and creates wealth, but in case some "independent" doesn't know what to think until told by a liberal, I wanted the truth to be published.
Government interference caused the recession of 1929 to turn into the depression of the '30s. It is causing the recession of 2009 to turn into the depression of the '10s.
Kennedy reduced taxes and prosperity followed with more revenue flowing into the treasury. Reagan reduced taxes and more revenue flowed into the treasury.
Which model do you prefer? It depends on your political beliefs.
Wilton Jere Tidwell